Arizona’s Emerging Technology Sector
Arizona is taking significant steps to become an active participant in several growing technology sectors. The recent commitment of Arizona lawmakers to high profile efforts to attract global technology leaders to the desert should give Arizona business owners and entrepreneurs confidence to look for new opportunities to expand their business.
Recent results speak for themselves. Arizona was one of the two finalists for Apple’s new campus. Biotechnology companies are coalescing around the Translational Genomics Research Institute (T-Gen) in downtown Phoenix. Fast Company recently recognized Arizona as a leader in data security, management, and storage. (Fast Company- Arizona is the Silicon Valley of Data Security)
The arrival, development and governmental support for new technology companies presents a unique opportunity for existing Arizona companies and entrepreneurs. Joint venture, service, supply, and growth opportunities will undoubtedly arise in conjunction with the arrival and development of new global companies to the Valley. The arrival of new professionals in industries previously connected only to Silicon Valley will create growth opportunities for existing Arizona companies.
The Arizona Commerce Authority–a quasi governmental agency created to attract companies to move to Arizona and to retain existing companies– is giving existing Arizona companies and companies in the process of moving to Arizona, an opportunity to jump start their participation in Arizona’s new economy. The ACA recently awarded six grants to Arizona companies in conjunction with its Arizona Innovation Challenge. The Arizona Innovation Challenge is is a twice yearly competition where Arizona companies or companies in the process of moving to Arizona can apply for grants to advance cutting edge technology in Arizona. Each of the six winners were awarded between $100,000 and $250,000 to assist in the development of new, progressive technology. For more information on the program, go to http://www.azinnovationchallenge.com.
Becker Peters is uniquely prepared to help Arizona’s growth companies take advantage of the opportunities that will present themselves as a result of these recent changes to Arizona’s technology business landscape. Our expertise, relationships, and knowledge of the playing field allow us to provide prompt, quality legal advice and support to Arizona’s growth companies. Our low overhead model and flexible payment arrangements provide peace of mind to companies that neither require nor want the overhead and fees associated with some of Arizona’s larger firms. We’ve worked at those firms. We provide the same level of service at a fraction of the cost. Call us to discuss how we can help your company get involved in the growth of Arizona’s technology sector.